XML 20 R18.htm IDEA: XBRL DOCUMENT v3.20.1

Note 10 - Debt

9 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Debt Disclosure [Text Block]

10)     Debt

Long-term debt is comprised of the following (in thousands):

		March 31, 2020				June 30, 2019
Bank credit agreements		$	213,000			$	198,800
Total funded debt			213,000				198,800
Issuance Cost			(935	)			(1,190	)
Total long-term debt		$	212,065			$	197,610

The Company’s debt payments are due as follows (in thousands):

Fiscal Year		March 31, 2020
2020		$	-
2021			-
2022			-
2023			-
2024			213,000
Thereafter			-
Total Debt			213,000
Issuance cost			(935	)
Debt net of issuance cost		$	212,065

Bank Credit Agreements

During the second quarter of fiscal year 2019, the Company entered into a five-year Amended and Restated Credit Agreement (“Credit Facility”, or “facility”). The facility has a borrowing limit of $500 million. The facility can be increased by an amount of up to $250 million, in accordance with specified conditions contained in the agreement. The facility also includes a $10 million sublimit for swing line loans and a $35 million sublimit for letters of credit.

At March 31, 2020, the Company had standby letters of credit outstanding, primarily for insurance purposes, of $7.6 million and had the ability to borrow $217.6 million under the facility. At March 31, 2020, the carrying value of the current borrowings under the facility approximates fair value.

X

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

+ Details

Name:	us-gaap_DebtDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureTextBlockAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration